Blockchain is computer-managed data that is not owned by any entity. Cryptography is used to bind and secure various data blocks contained in it. Everyone can access and view transaction records because blockchain is public. Blockchain technology has evolved to support various areas of daily life. Blockchain technology is also ready to help the government with accuracy and low cost.
BLOCKCHAIN TECHNOLOGY ADVANTAGES
- Can Secure Data
The information system in the Blockchain is stored in the computer making this Blockchain technology safe and very difficult to hack.
- No central server
Blockchain technology does not have a central server because all data is copied and then propagated to all nodes in the network.
- Can Reduce Costs
It processes transactions and reduces manual tasks such as aggregating and converting data.
WEAKNESSES OF BLOCKCHAIN TECHNOLOGY
- Not Environmentally Friendly
- Easy to Hack
- Difficult to manage